Every sphere of life has its legends and, as fans of Unibet casino will know, in the world of casinos and gambling there’s one man who stands head and shoulders above the rest: Archie Karas.
A Greek-American, Karas’s gambling exploits became notorious amongst gambling circles and before long a documentary was made which chronicled his monumental run at some of the biggest casinos in the world.
Starting out in 1992 with just $50, Karas soon went on a tear in Las Vegas, betting money on everything from roulette, to blackjack and craps. So powerful was Karas’s hot streak that he was able to sit down with some of the best poker players in the world at the time, including Doyle Brunson and Chip Reese and take their money.
In just three years, Karas turned his initial stake into $40 million but lost it all in 1995. According to many of the gamblers present in Vegas at the time, Karas’s downfall came thanks to dice and Baccarat. His first mega loss came at the dice tables and totalled almost $20 million. From there he dropped another $17 million at the Baccarat tables.
Needing a break, but with $12 million still left in the bank, Karas went home to Greece only to return a few months later and lose the lot. $300,000 bets on a single hand of Baccarat soon emptied his account and sent Karas right back to where he started.
Upon reflection Karas admits that he’s probably gambled more than any person in history and there are few that would argue with him. However, the extraordinary fall from grace didn’t seem to affect Karas as he can still be found in poker rooms and casinos across Las Vegas.
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